Yonggui Electric released its 2026 semi-annual report on August 25. First-half operating revenue was 1.137 billion yuan, up 10.71 percent year on year, but net profit attributable to the parent swung to a loss of 15.99 million yuan. Net profit after deducting non-recurring items was negative 24.08 million yuan, down 147.69 percent year on year. Net operating cash flow was negative 35.77 million yuan, down 168.34 percent year on year, turning from positive to negative. The company said revenue from its automotive and energy information business was 696 million yuan, up 34.29 percent year on year, but gross margin declined due to price reduction policies and rising raw material costs. Revenue from the rail transit and industrial segment was 370 million yuan, down 16.35 percent year on year, because of a slower delivery pace. In addition, the convertible bonds issued in March 2025 accrued interest expense of 18.11 million yuan in the first half of 2026, an increase of 8.27 million yuan year on year, eroding profit. The company has completed a board reshuffle, electing Fan Zhengjun as the new chairman, and plans to buy back 100 million to 150 million yuan of shares for equity incentives.
Zhejiang Yonggui Electric Equipment Co LtdFirst-half net loss and negative operating cash flow due to price cuts, rising costs, and interest expense.
